Archived decisions

Notice of Motion

Ethical Investment and the Hampshire Pension Fund

This Council notes the consistent record of the Pension Fund Panel in fulfilling the duty of the County Council to ensure that funds are available to provide for the pensions of members of the Hampshire Pension Scheme.

This Council recognises:

(i) that there is concern among contributors and beneficiaries of the Hampshire Pension Scheme, and other residents of Hampshire, about the investment of pension fund monies into companies which manufacture and export arms;

(ii) that the Hampshire Pension Fund has been identified as the south-east's largest investor in the arms trade with more than £22,414,800 tied up with arms manufacturers;

(iii) that many pension schemes successfully invest all or part of their funds in socially responsible investments, which avoid arms manufacturers and take account of environmental and social issues; and

(iv) that only a small portion of the Hampshire Pension Fund has been so invested.

This Council also notes that the performance of socially responsible investment of pension funds can match or outperform general pension fund investment when pursued seriously.

This Council recognises the fiduciary duty of the Pension Fund Panel and the wider duty of the County Council to promote the public good. This Council, therefore, instructs the Pension Fund Panel to review the investment policies of the Pension Fund with a view to maximising the proportion of the funds allocated to socially responsible investment, compatible with their fiduciary duty.

Councillor AP Collett

Proposer